BANKRUPTCY AND THE DISCHARGE

BANKRUPTCY AND THE DISCHARGE

Filing bankruptcy allows you to obtain what is called the “fresh start.” You only get a fresh start as to certain types of debt. There are certain types of debts that are not discharged in a bankruptcy case. What debts are not discharged depend of several different criteria.

The easiest type of debt that is not discharged is one that you do not list when you file bankruptcy. You must list all of your debts. A debt is anyone that you owe money to. It does not matter if that person is your mother, father or best friend. You need to list everybody.

You also need to list anyone who claims or may claim that you owe them money. One of the really nice things about bankruptcy is that it is a very quick way to get a determination if you even owe someone money.

You can always pay anyone you owed money and listed in the bankruptcy after you get your discharge. The creditor cannot ask for payment, but, you can pay the creditor if you want.

WHEN IN DOUBT, LIST THE PERSON OR COMPANY THAT MAY CLAIM YOU OWE MONEY. LIST THE CREDITOR AND BE SURE THAT YOU ARE RID OF THE CREDITOR.

 

About Nathan Davis, Esquire

Born in Charleston, South Carolina, Nathan Davis has been practicing law for many years. Mr. Davis has a wide variety of experiences having practiced domestic relations, criminal law, social security law having also practiced collection law in the past. This knowledge is helpful when someone needs to restart their financial life. The practice is now primarily bankruptcy and debtor representation work, but, Mr. Davis continues to also practice real estate law, trusts and estates and a general litigation practice. I believe that the most important part of representation is trying to leave you better off when the case is finished than when you started. Although I will do as my client directs, I will always tell you if I think that you are making a mistake. Bankruptcy is about a "fresh start". If you do not make changes in what you are doing, you will be doing what you are doing now in the future. There is no shame in bankruptcy or other steps that you may take to start your life over. Too often, people worry more about things than about themselves, their family or their future.
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